Najibi ME, Dubai announced plans to restructure some of its business interests fur-ther under its newly established Najibi Investments.

The move comes on the heels of receiving development approval for the company’s landmark investments in Australia’s leisure, entertainment and real estate sectors, the company said.

"With the formation of Najibi Investments in Dubai, which is to become our flagship growth-driven vehicle, we are looking forward to a very exciting 2017 for our business,” said Talal Y Najibi, executive chairman of Najibi Investments. “The strong performance of our traditional business interests in 2016 will be bolstered in 2017 by our one of its kind active lifestyle integrated tourism project on Australia’s Sun-shine Coast.”

Rooted in the Middle East, Najibi has been in business for over 50 years, and has tackled heavy-duty challenges on the road to success.

“Najibi was set up in Manama, Bahrain where, decades ago, trade and commerce flourished in conjunction with the discovery of oil and gas reserves in 1932,” he continued. “Through interests in trade, construction, manufacturing and hospitality, Mohamad Najibi founded the business, and injected direction and guidance into the group that grew it into the powerful, diversified conglomerate it is today.”

A strategic move in 2003 brought Najibi to Dubai, under the leadership of Talal Y Najibi, who placed a keen focus on the trading sector, and undertook ventures in real estate, manufacturing, industry and retail, it said.

“Continuing this tradition of constantly diversifying our portfolio to take positions in sectors where we see opportunity, our decision to create Najibi Investments is very strategic. It will become our corporate vehicle to grow our existing assets and diver-sify into more economic sectors over the next five years,” he said.

Najibi Investments set up Sanad Capital in Australia to develop and manage the lei-sure and entertainment project, as well as look at profitable investment opportuni-ties in the hospitality, technology, infrastructure and real estate sectors there. Val-ued at over Dh1 billion, the project codenamed ACTVE has just received its devel-opment approval from the Queensland State Government and the Sunshine Coast Council for phase one.

“The plans comprise a waterpark, great lawn and events area, extreme water sports facilities, a sports training and development complex, an exhibition and conference center, cafes and restaurants, international and local retail outlets,” said Bradley P Sutherland, general Manager of Najibi Investments. “Phase two of the project will see plans to develop a 225-room four-star hotel.” – TradeArabia News Service